Transport Corporation of India (TCI) has approved a share buyback worth Rs 150 crore. The board cleared the repurchase of 15,62,500 shares at Rs 960 per share, which is about 2.03 per cent of the company’s equity. The buyback price is roughly 11 per cent above the recent market price.

The company will buy the shares through the tender-offer route. The record date for the offer is October 9, 2026. The promoters of the company will not take part in the buyback, TCI said.

A buyback reduces the number of shares in the market. It can raise earnings per share and often signals that the board believes the stock is undervalued. Companies also use buybacks to return surplus cash to shareholders.

TCI is one of India’s large logistics and supply-chain companies. Investors will watch the response to the tender offer when it opens next month.

Under Indian rules, a tender-offer buyback lets all eligible shareholders offer their shares back to the company at the fixed price. The offer document will be filed with the market regulator before the record date, and shareholders can then decide whether to take part.